European stocks took a nosedive on Friday, capping off what has been a turbulent week full of twists and turns for investors. The Stoxx 600 index, after initially opening slightly higher, quickly plummeted by 0.9% at 11 a.m. in London, signaling one of the worst weeks of the year so far for the regional benchmark.
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The financial technology industry has undergone a significant transformation, with industry executives and investors expressing the belief that the sector has finally reached a “bottom.” During the Money20/20 event in Amsterdam, it was noted that valuations have corrected from unsustainable highs that were prevalent during the industry’s peak in 2020 and 2021. Companies like OpenPayd
According to Bloomberg, the Biden administration is currently exploring the option of imposing stricter regulations on China’s ability to access chip technology essential for artificial intelligence. The focus is on a high-tech chip architecture known as gate all-around (GAA), with possible actions being considered to limit China’s access to this technology. Leading companies like Samsung
Gold trading is gradually shifting eastward, with Singapore emerging as a potential leading hub in the gold market, according to the World Gold Council. The rise in gold consumption in major emerging economies, particularly in Asia, is a key driver behind this shift. Shaokai Fan, head of Asia-Pacific and global head of central banks, highlighted
German Chancellor Olaf Scholz is currently facing mounting pressure following the significant gains made by the far-right AfD in the European Union election. Despite a series of scandals, the AfD managed to secure 15.9% of the votes according to preliminary results. This surpasses the support garnered by Scholz’s own SPD (social democrats) and their coalition
As the final day of voting in the European Union elections approaches, millions of citizens across 27 member countries are expected to participate. Voting began with Estonia taking the lead, followed by other countries opening their polling stations. With over 400 million eligible voters, the election will determine the 720 members of the European Parliament
Norway’s $1.7 trillion sovereign wealth fund, Norges Bank Investment Management (NBIM), announced its decision to vote against ratifying Tesla CEO Elon Musk’s $56 billion pay package. The fund, which is Tesla’s eighth-largest shareholder, expressed concerns about the excessive size of the award, the structure of the package, performance triggers, dilution, and the lack of mitigation
The recently released May jobs report in the United States has surprised many analysts and economists by showing a significant increase in nonfarm payrolls. The data, released by the Labor Department’s Bureau of Labor Statistics, indicated that the economy added 272,000 jobs in May. This number was much higher than the consensus estimate of 190,000,
Scientist Lee Seok Woo drew inspiration from a scene in a “Mission Impossible” movie, where an agent uses smart contact lenses with facial recognition and eye tracking capabilities. This inspired Lee to delve into creating batteries for smart contact lenses in real life. The Nanyang Technological University’s School of Electrical and Electronical Engineering associate professor